AUD/USD could slip back to 0.7529 - Commerzbank

Pablo Piovano FXStreet

The recent price action around the Aussie Dollar would suggest a potential test of the 0.7530 region, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“No change, we are seeing some near term weakness back from the top of the channel at .7647. Very near term we would allow for some slippage to the 200 day ma at .7529. Above .7635/42 will target the top of the triangle at .7714. The market is expected to find support at the 200 day ma at 0.7529 and the 55 day ma at .7492”.

“Above .7635/42 should trigger a move to the top of the triangle at .7714”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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